(MENAFN- EIN Presswire)
Floor Polishing Machine Global market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Early Year-End Sale! Get up to 30% off detailed market research reports-for a limited time only!
The floor polishing machine market size is expected to see strong growth in the next few years. It will grow to $19.8 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.” - The Business Research Company
LONDON, GREATER LONDON, UNITED KINGDOM, December 2, 2024 /EINPresswire / -- Take advantage of The Business Research Company's Early Year-End Sale! Get up to 30% off detailed market research reports-limited time only!
Has the Floor Polishing Machine Market Experienced Growth Recently?
Indeed, the floor polishing machine market size has been experiencing robust growth. The market size is estimated to upsurge from $15.12 billion in 2023 to $15.93 billion in 2024 at a compound annual growth rate CAGR of 5.4%. Primarily, the growth in the historic period can be assigned to a boom in construction and real estate, increased renovation and remodeling activities, the usage of these machines in industrial and commercial spaces due to diverse flooring materials, and stringent health and safety regulations.
Examine the floor polishing machine market size and growth rate for more detailed insights:
What are the Growth Projections for the Floor Polishing Machine Market?
Anticipating the next few years, the floor polishing machine market is poised to witness substantial growth. The market size will likely reach a staggering $19.8 billion by 2028, growing at a compound annual growth rate CAGR of 5.6%. The projected growth in the forecast period will likely be stimulated by the rising adoption of eco-friendly polishing solutions, escalating health and hygiene concerns, the renewal of aging infrastructure, the emergence of specialty flooring, and the increasing development of urbanization and high-rise buildings. Additionally, meaningful trends gaining traction include smart and automated floor polishing, floor surface analysis and quality assurance, specialty applications, labor-saving robotics, as well as other technological advancements.
Get detailed insights into the future of the floor polishing machine industry and strategies to address market changes:
What are the Principal Drivers of the Floor Polishing Machine Market?
The burgeoning construction industry is anticipated to drive the growth of the floor polishing machine market in the foreseeable future. The construction industry is a multifaceted sector, encompassing activities from building, maintaining and repairing structures to drilling, solid mineral exploration, and floor polishing. In construction and building facilities, floor polishing machines play a crucial role in infrastructure repairs and restoration. For example, according to the Institution of Civil Engineers ICE, a promoter of civil engineering projects, the global construction market size is predicted to reach $8 trillion by 2030. Furthermore, according to Invest India, the construction industry in India is projected to reach $1.4 trillion by 2025. This phenomenal growth in the construction industry highlights its role as a significant driver of the floor polishing machine market.
Who are the Key Players in the Floor Polishing Machine Market?
Major companies operating in the floor polishing machine market include Alfrend Karcher GmbH & Co. KG, Tennant Company, Hako GmbH, Nilfisk Group, Clemas & Co. Ltd., Tornado Industries Inc., Denis Rawlins Limited, Eureka S.p.A., Minuteman International Inc., Fimap S.p.A., Klindex S.r.l, Bortex Industries Inc., Garg Machines, Wiese USA, New Age Cleaning Solutions LLC, Diamatic USA, Scanmaskin Sverige AB, Onfloor Technologies LLC, Terrco Inc., SASE Company LLC, and others. These industry players are conforming to the market shifts through technological advancements and other innovative approaches.
Which Trends are Redefining the Floor Polishing Machine Market?
Technological advancements are undeniably shaping the future of the floor polishing machine market. Prominent players in the industry are focusing on developing and integrating new technologies to meet consumer demands and fortify their market position. For instance, Tennant Company, a US-based manufacturer of floor cleaning machines and equipment, introduced lithium-ion technology into their portfolio of autonomous mobile robot AMR machines in April 2022. This advanced battery technology enhances productivity and reduces costs, thereby revolutionizing the floor polishing machine industry.
How is the Floor Polishing Machine Market Segmented?
The floor polishing machine market can be segmented as follows:
1 By Floor Type: Carpet, Concrete, Stone, Wood, Tile and Grout, Other Floor Types
2 By Operation Type: Manual, Automatic, Semi Automatic
3 By Sales Channel: Online, Offline
4 By Application: Residential, Commercial, Other Applications
What are the Regional Insights into the Floor Polishing Machine Market?
In 2023, Asia-Pacific was the largest market for floor polishing machines. The report covers all prominent regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Browse Through More Similar Reports By The Business Research Company:
Flooring Adhesive Global Market Report 2024
Flooring Contractors Global Market Report 2024
Automotive Acoustic Materials Global Market Report 2024
About The Business Research Company
Learn More About The Business Research Company. With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.
Contact us at:
The Business Research Company:
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at ...
Follow us on:
LinkedIn:
YouTube:
Global Market Model: global-market-model
Oliver Guirdham
The Business Research Company
+44 20 7193 0708
email us here
Visit us on social media:
Facebook
X
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN02122024003118003196ID1108945224